Real estate values in Newton reflect the community amenities, quality of life, and other related factors. This area is highly desirable because it offers residents a good investment for the future. Home values in this area show a steady trajectory of increasing over a period of time. For example, the period of 2000 to 2014 showed a national decline in home values, but the median sales price for homes in Newton actually increased from $379,000 in the year 2000 to almost $700,000 in the year 2014. Although all real estate markets show upturns as well as downturns, the long-term market value of real estate in this area demonstrates a solid investment potential.
The high demand for real estate in this area shows that the overall investment value is firm relative to comparable areas. The nearby hospitals and schools improve the value of life in this area. The educational attainment of the residents within Newton also affect the area's overall property values. Most residents have obtained a Masters, doctorate, medical or law degree. The local schools include Lincoln-Eliot and Underwood Elementary, Bigelow Middle, Mount Alvernia High, Trinity Catholic High. The Boston College Law School is one of the area's prominent institutions of higher education. Many graduates of this school continue to find gainful employment in the area, and they may decide to reside in one of the villages.
This area connects with the I-90, which is relatively close to Boston. Many of the residential properties in this area were constructed before 1939, and the historical nature of the architecture as well as the current condition of these properties often influence the value of surrounding properties as well. Residential areas stand to benefit from the activities of various local civic organizations and preservation agencies. These are groups of active citizens who strive to improve the condition of the natural land as well as the condition of various historical structures.
Prices for Homes
The housing prices in this area reflect a variety of factors, which includes the quality of the nearby schools, amenities, historical buildings, parks, hospitals and recreational facilities, and other amenities. The local elementary schools are renowned for their friendly staff, and they are equipped with the latest learning materials to help kids advance in the rest of their academic endeavors. The middle schools and high schools have also gained a comparable reputation for providing a high-quality education in these areas. The residents in these villages are from a diverse range of backgrounds, and the demographic information available reflects a primary presence of people from Italian, Russian, Asian and Irish ancestry.
Another important indicator of home value is the property and violent crime index, which compares neighborhood crime rates to comparable areas across the country. Newton has an overall low crime index, and most of the incidents involve theft from vehicles or traffic offenses. The overall percent of the population directly affected by property crime is just below 1.3 percent, and violent crimes involve less than 0.2 percent of the population. The vacancy rate in this area is slightly higher than 12 percent, but it may indicate the seasonal occupation of homes rather than the real vacancy rating. Vacation housing may drive up the vacancy rate, but this number would be artificially high in this instance.
Quality of Life Indicators
Additionally, any indicator for the quality of life must take into account the average commuting distance as well as the various options for traveling to work. Although almost 73 percent of the residents drive to work, almost 10 percent take a commuter train, and the rest carpool with friends or coworkers. The option to walk to work or to nearby attractions is very appealing to neighbors who prefer to follow a healthy lifestyle. There are different procedures used to calculate the prices, and they can be detailed by using various methods. These include the average listing price, the median price, the average price per square foot and the percentage of increase or decrease per period of time.
The average listing price in Newton, MA takes into account the total number of homes listed in the area, and it also separates the values according to the number of bedrooms. These prices also reflect a period of time, and it is conveniently divided into two-week sections for quick reference. For example, one two-week period shows that the total number of homes dropped from 153 to 144, and the percentage of the price increase during this period for a two-bedroom home was up 2.6 percent. This amounted to $529,783 during that period, but the average listing price dropped a few weeks later to 443,086.
Median prices for homes in Newton range between $100,000 to $600,000, yet the average list price fluctuates from $73,000 to $1,501,000. It is normally higher than the median due to the methods used to calculate these two numbers. During one fiscal quarter, the median sales price was $545,000, which was a decrease of 2.7 percent, or $15,000, compared to the previous period. The average price per square foot is also affected by the same calculation methods, and the price per square foot during this period was $461, which represented a 5.7 percent increase over the previous period of time.
Newton Real Estate is a great investment
The real value of any home is a combination of several different factors. The market value of the home will be influenced by the surrounding properties, but the personal value of the home is appraised by the overall quality of life provided by the area's amenities and benefits. As far as the market value is concerned, the period between 2012 and the end of 2014 showed the largest jump in price than at any other time during the previous decade.
The surrounding properties in Newton are well-maintained. The owners of these properties are highly educated, and they have stable incomes. The local schools and hospitals add to the property value, and shopping districts are conveniently located within a short commute.
The personal value of a Newton property is much more complicated to assess than the market value. This area has a long history that stretches back several hundreds of years. Those who move into one of the villages will certainly learn something about the unique history of this location, and these kinds of educational benefits cannot be easily appraised. The quick access to local freeways, parks, recreational facilities, entertainment and commercial zones will make life easy and enjoyable for anyone who chooses to relocate into one of these lovely Newton villages.